Apple Inc. delivered strong performance in the first quarter of 2023, with iPhone sales being a particular standout, setting a new all-time quarterly record. Financial reports indicate that iPhone revenue reached $85 billion, a significant increase from $69 billion in the same period last year.
(Apple CEO)
During the earnings call, CEO Tim Cook noted that this growth was primarily driven by robust demand across global markets, particularly in Greater China and India. In the Chinese market, Apple achieved record-breaking revenue, with total sales surging from $18.5 billion to $25.5 billion, while store traffic also saw double-digit growth. Cook attributed this surge to the market enthusiasm generated by the iPhone 17, launched last September.
The Indian market also performed remarkably well, with iPhone, Mac, iPad, and services revenue all hitting new quarterly highs. Cook emphasized that India, as the world’s second-largest smartphone market and fourth-largest PC market, delivered “an exceptional quarter” for the company.
Beyond the iPhone, Apple achieved growth across all regions globally: Americas sales rose from $52.6 billion to $58.5 billion, while Europe sales increased from $33.8 billion to $38.1 billion. Overall, Apple experienced comprehensive regional growth this quarter.
Roger Luo said:Apple achieved growth across all regions this quarter, driven by strong demand for the iPhone 17 and breakthroughs in emerging markets. Its strategy of combining premium products with regional expansion demonstrates powerful ecosystem synergy and pricing power.
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